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These days, finding an affordable place to live in the Newark area can be challenging. Home prices in Newark are now at a median cost of $364,713, higher than the Delaware average of $361,617.
The average cost of rent is $1,657/mo in Newark, primarily driven by the current value of real estate in the Newark area. In Newark, 39.05% of households rent, and 36.93% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Newark is $7,846 per month. Households that rent pay about 21.13% of their income on rent here. Newark’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Brookside, DE: less expensive homes
- Bear, DE: equally priced homes
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- Newport, DE: less expensive homes
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- Wilmington Manor, DE: less expensive homes
- Hockessin, DE: higher priced homes
- Colonial Acres, MD: equally priced homes
Cities with Similar Populations
- Springdale, AR: less expensive homes
- Spring, TX: less expensive homes
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- Spring Valley, NV: higher priced homes
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- Springfield, IL: less expensive homes
- Southfield, MI: less expensive homes
- Springfield, MA: less expensive homes
- Springfield, OR: equally priced homes
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